Billionaire tycoons Gautam Adani and Kumar Mangalam Birla are in a fierce competition within India's cement industry, focusing on acquiring assets and expanding production capacity. Adani's entry in 2022 disrupted the market, with both Adani Group and Birla's UltraTech Cement Ltd. executing several deals. Adani aims to double production capacity to 140 million tons by 2028, whereas UltraTech targets 200 million tons by 2027. The infrastructure boom is fueling massive cement demand in India.
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